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MERR > SEC Filings for MERR > Form 8-K on 8-Apr-2014All Recent SEC Filings

Show all filings for MERRIMAN HOLDINGS, INC

Form 8-K for MERRIMAN HOLDINGS, INC


8-Apr-2014

Unregistered Sale of Equity Securities


Item 3.02 Unregistered Sales of Equity Securities.

On April 2, 2014, the Company entered into a definitive agreement (the "Stock Purchase Agreement") for the sale and issuance of 7,833,333 shares of Common Stock at a price per share of $0.06, resulting in total cash proceeds to the Company of $470,000 (the "First Closing"). Purchasers were existing stockholders or employees of the Company. Use of proceeds was partial repayment of debt and payments under a previously agreed litigation settlement with the balance of proceeds used for working capital and general corporate purposes. For each share of Common Stock purchased, the investors received a warrant to purchase 0.25 shares of Common Stock at a price of $0.08 per share, for a term of five years. A total of 1,958,332 warrants were issued in the First Closing. On April 8, 2014, the Company entered into a definitive agreement (the "Stock Purchase Agreement") for the sale and issuance of 416,667 shares of Common Stock at a price per share of $0.06, resulting in total cash proceeds to the Company of $25,000 on identical terms and conditions to those of the First Closing (the "Second Closing"). 104,166 warrants were issued in the Second Closing. The Stock Purchase Agreement is attached hereto as an exhibit.

No underwriters, underwriting discounts or commissions were involved in the First or Second Closing.

Item 9.01(d) Exhibits

10.49 Form of Stock Purchase Agreement dated April 2, 2014 and April 8, 2014.

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